CORRECTING and REPLACING Green Machine Development Corp. Executes Definitive Contract for Acquisition of Major Developer.Business Editors/Real Estate Writers CORRECTION...by Green Machine Development Corp. FORT PIERCE Fort Pierce, city (1990 pop. 36,830), seat of St. Lucie co., SE Fla., on Indian River (a lagoon; part of the Intracoastal Waterway); settled in the 1860s around a fort; inc. 1901 as a city. , Fla.--(BUSINESS WIRE)--Dec. 4, 2003 In BW5461 issued Dec. 4, 2003: Fourth graph, last line of release should read: ...and retire 9 million shares of issued restricted shares. (sted ...and retire 9 billion shares of issued restricted shares.). The corrected release reads: Green Machine Development Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :GMCD) announced today that the Shareholders and the Board of Directors approved a reverse acquisition of Long Lake Partners, Inc., on Dec. 1, 2003. Both parties completed the signing of the agreement yesterday. Long Lake Partners, Inc. (LLPI) of Boca Raton Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla., recently completed a purchase agreement for a large tract of land in southwestern Palm Beach County. The developer is planning 1,000-plus-unit luxury residences through a PUD PUD abbr. peptic ulcer disease Peptic ulcer disease (PUD) A stomach disorder marked by corrosion of the stomach lining due to the acid in the digestive juices. . LLPI expects to have its engineering and financing packages completed in early '04. GMCD expects to close the exchange of all the outstanding shares of LLPI for the issuance of 6 million common shares of GMCD upon the completion of title binders, engineering and finance commitments. LLPI will name several new directors and change the name of the company upon completion of the exchange of shares. LLPI will increase the common stock capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. from 50 million to 100 million authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: common shares to accommodate a planned forward split of 5:1 and retire 9 million shares of issued restricted shares. The company plans to file an SEC Registration to raise $25 million and also is negotiating several private placements to provide additional long term capital. The company executed a "Reg REG, n.pr See random event generator. S" placement of 3.3 million shares in early November '03, however, the transaction was not completed by November 30, 2003 and it was cancelled. The company may pursue another transaction with the foreign investor, at a much higher share price to provide initial funding. |
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